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Umiya Tubes Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Dec 2018

Auditor and Management Disclosures and Notes for the quarterly results dated 31 Dec 2018

1. The above unaudited results have been reviewed by the audit committee and taken on record by Board of Directors at their meeting held on 5th January, 2019 and the same have been subjected to limited review by the Peer Reviewed Statutory Auditors of the Company, in terms of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No: CIR/CFD/AC/62/2016 dated 5th July, 2016.

2. The Equity shares of the Company listed on the BSE Limited have been migrated from the SME Platform to the Main Board w.e.f. 23rd July, 2018 vide BSE Notice Number: 20180719-25 dated 19th July, 2018. In view of this, the Companies (Indian Accounting Standards) Rules, 2015 has become applicable for the financial year 2018-19. Hence, the financial results for the quarter ended on 31st December, 2018 are IND-AS complaint. Consequently the financial results for quarter ended 31st December, 2017 and previous year ended 31st March, 2018 have been restated to comply with Ind-AS to make comparable.

3. Reconciliation of Profit between IND AS and Previous Indian GAAP:-For Table, kindly refer Corporate Announcements on www.bseindia.com.

4. The figures for the corresponding previous period have been restated/regrouped wherever necessary, to make them comparable.

5. Other Expenses for the Quarter ended 31st December, 2018 and Cumulative up to 31st December, 2018 includes Expected Credit Loss of Rs. 50,23,922.78

6. The increase in share capital was due to allotment made on 22nd June, 2018 of 25,01,667 Bonus Equity Share of Rs.10/- each in the ration of one equity share for every three equity shares held by the members as on record date (i.e. 21st June, 2018).

7. The money received against share warrant of Rs.1,00,62,500/- received at 25% of the issue price of Rs.115/- each i.e. Rs.28.75 per warrants in respect of 3,50,000 Convertible Shares Warrants, allotted on 1st July, 2017 on preferential basis to Promoters and Promoters Group stands forfeited on 31st December, 2018, as the concerned warrant holders have not exercised their option for conversion/entitlement.

Saurabhkumar R Patel
Managing Director